The Finance Minister Ken Ofori-Atta says his outfit carried out due diligence with regards to the processes that led to the approval of the Agyapa Royalties Agreement in Parliament.
This follows a directive from President Akufo-Addo to the Finance Ministry to return the deal to Parliament for further scrutiny after a corruption risk assessment report by Special Prosecutor, Martin Amidu was sent to the Presidency.
In the report, Mr Amidu had raised red flags against the deal and insisted that a number of processes were deliberately sidestepped.
According to the Special Prosecutor, the selection and appointment of advisors for the agreement did not meet the “fundamentals of probity, transparency and accountability.”
He also alleged that all the various officials who took part in the processes leading to the approval of the deal by Parliament flouted several laws with impunity.
But defending the deal, Mr. Ofori-Atta in a memo copied to the President and sighted by JoyNews insists his Ministry has been transparent through out the transaction process.
He argued that the approval by the Attorney General and Parliament was evidence of the transparent nature of the deal and the processes involved despite the allegations made by the Office of the Special Prosecutor.
“This Ministry believes that it has been transparent from the onset,” part of the memo read.
The Agyapa Deal, which is said to be in line with the Minerals Income Investment Fund (MIIF) Act 2018 (Act 978) was passed by Parliament on August 14.
The new agreement will enable the country to use a Special Purpose Vehicle (SPV), Agyapa Royalties Limited, to secure about $1 billion to finance large infrastructural projects.
The transaction has however been met with stiff opposition from members of the NDC, some civil society organizations, and a cross-section of Ghanaians.
Subsequently, the Office of the Special Prosecutor advised the government to pull the brakes on its planned launch of an Initial Public Offer (IPO) regarding the Agyapa Royalties agreement.
According to Martin Amidu, the move was to allow his outfit the opportunity to conclude its ongoing corruption risk assessment.
After submitting the report to the Presidency on October 15, President Akufo-Addo instructed the Finance Minister to send the deal back to Parliament for further scrutiny.
- Task force destroys excavators allegedly belonging to NPP Women’s Organiser
- Mahama’s ‘dumsor’ is different from Akufo-Addo’s – Kweku Awotwi
- Dr. Adoma Dwomo-Fokuo Odame: Dear Sam George, red is the only colour that matters
- Ghanaians to re-register SIM cards in June or risk losing phone numbers
- 23-year-old arrested for attempting to sacrifice his nephew for money
- Armed robbers jailed for robbing, raping pregnant woman
- Leicester issue Chelsea apology over Daniel Amartey FA Cup actions
- We pay ‘big money’ taxes and yet they burn our equipment – XtraGold Mining Company
- “I’m not proud of it” – referee for Hearts v Sharks game apologises for errors
- Galamsey: Desilting and dredging of the Offin river underway
Ghana will enforce Covid-19 restrictions until herd immunity is achieved – Akufo-Addo
Akufo-Addo’s approach to galamsey fight akin to mob justice – NDC
Maritime insecurity remains a big threat-CDS
NPP Women’s Organizer seeks justice for burnt mining equipment
Kajeji SHS in dire need of infrastructure 30 years after its establishment
IES MarketScan: A year on, why hasn’t ENI and Springfield unitized as directed
Withdraw illegal guards or lose your license – Forestry Services Division cautions Licensed Timber contractors
Senior Staff Association at Universities of Ghana resume strike after no-show Tier II
Registration of SIM cards with Ghanacard likely to begin soon – Bawumia
Anthony Joshua v Tyson Fury: Deontay Wilder arbitration casts doubt over Saudi Arabia bout
DCOP Opare Addo vows to take action against Delta Force following his attempted forceful removal from office
Ayew gives Swansea narrow lead over Barnsley in Championship play-offs
Mark Okraku-Mantey and arbitrators resolve MUSIGA election impasse
Francis-Xavier Sosu: Dishonesty of government in its economic management exposed by IMF
Banks to remain resilient and supportive of resetting post Covid-19 economy back to stability – BoG